Delek Logistics Partners, L.P. (NYSE:DKL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Delek Logistics Partners, LP owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The company operates crude oil transportation pipelines, refined product pipelines, crude oil gathering system, and associated crude oil storage tanks. It also provides marketing services for refined products other than jet fuel and petroleum coke; and light products, operates light product terminals in Texas and Tennessee and offers terminalling services to independent third parties. Delek Logistics Partners, LP is headquartered in Brentwood, Tennessee. “

A number of other brokerages also recently commented on DKL. Barclays PLC restated an “equal weight” rating and issued a $33.00 target price on shares of Delek Logistics Partners, L.P. in a research note on Wednesday, July 5th. Scotiabank set a $33.00 target price on Delek Logistics Partners, L.P. and gave the stock a “hold” rating in a research note on Saturday, July 22nd. Finally, BidaskClub upgraded Delek Logistics Partners, L.P. from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Delek Logistics Partners, L.P. currently has a consensus rating of “Hold” and a consensus target price of $34.00.

Delek Logistics Partners, L.P. (DKL) traded up 2.05% on Monday, hitting $32.35. The stock had a trading volume of 19,237 shares. The company has a 50 day moving average price of $32.97 and a 200-day moving average price of $32.09. Delek Logistics Partners, L.P. has a 52-week low of $21.30 and a 52-week high of $36.05. The company has a market cap of $787.01 million, a price-to-earnings ratio of 16.45 and a beta of 1.29.

Delek Logistics Partners, L.P. (NYSE:DKL) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.09. The firm had revenue of $126.80 million for the quarter, compared to analysts’ expectations of $140 million. Delek Logistics Partners, L.P. had a net margin of 12.70% and a negative return on equity of 402.04%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, equities research analysts predict that Delek Logistics Partners, L.P. will post $2.41 earnings per share for the current year.

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In related news, major shareholder Delek Us Holdings, Inc. bought 4,617 shares of the stock in a transaction dated Wednesday, May 10th. The shares were purchased at an average price of $31.09 per share, for a total transaction of $143,542.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 38,494 shares of company stock worth $1,192,866 in the last 90 days.

Hedge funds have recently modified their holdings of the company. Allianz Asset Management AG increased its stake in shares of Delek Logistics Partners, L.P. by 7.2% in the fourth quarter. Allianz Asset Management AG now owns 621,030 shares of the oil and gas producer’s stock worth $22,165,000 after buying an additional 41,489 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Delek Logistics Partners, L.P. by 123.3% in the third quarter. First Trust Advisors LP now owns 361,010 shares of the oil and gas producer’s stock worth $10,318,000 after buying an additional 199,372 shares during the last quarter. TPH Asset Management LLC increased its stake in shares of Delek Logistics Partners, L.P. by 144.9% in the first quarter. TPH Asset Management LLC now owns 324,230 shares of the oil and gas producer’s stock worth $9,522,000 after buying an additional 191,848 shares during the last quarter. HITE Hedge Asset Management LLC increased its stake in shares of Delek Logistics Partners, L.P. by 1.2% in the second quarter. HITE Hedge Asset Management LLC now owns 321,792 shares of the oil and gas producer’s stock worth $10,539,000 after buying an additional 3,765 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in shares of Delek Logistics Partners, L.P. by 5.2% in the second quarter. Global X Management Co. LLC now owns 246,965 shares of the oil and gas producer’s stock worth $8,088,000 after buying an additional 12,272 shares during the last quarter. Hedge funds and other institutional investors own 27.39% of the company’s stock.

About Delek Logistics Partners, L.P.

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc (Delek), and assets acquired from unrelated third parties.

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